Replying to Avatar Matt Corallo

“Any buyer of Signature must agree to give up all the crypto business at the bank, the two sources added.” - Reuters.

So that basically confirms NYDFS lied when they claimed Signature’s customers wasn’t a factor in the shutdown.
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Matt Corallo 2y ago

To summarize, NYDFS seized a not-bankrupt (based on their own and management’s comments) bank (at least in part) because it banked crypto/bitcoin companies, taxpayers spent money to inject more cash, and then NYDFS turns around and sells it with the condition that crypto/bitcoin gets debunked.

Your tax dollars at work!

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snowflake 2y ago

They were so desperate to unbank bitcoin to accept huge risk of causing massive bank runs and put them on the brink of second 2008 year meltdown.

US is now another China: dictatorial, corrupt stste run by selfish geriatric patients

7e
HashTrash4Cash 2y ago

The NYDFS at the direction of someone higher up. The NYDFS doesn’t buy a FDIC regulated bank a cup of coffee without permission.